S&P rates BW Gas facilities B+

S&P said it assigned its B+ issue-level and 2 recovery ratings to BW Gas & Convenience Holdings LLC's first-lien credit facilities, composed of a $125 million revolver maturing in 2026 and a $410 million term loan maturing in 2028. The 2 recovery rating indicates an expectation for substantial (70%-90%; rounded estimate: 70%) recovery in default.

“Our B issuer credit rating and stable outlook on BW Gas are unchanged,” S&P said in a press release.

The company will use proceeds to refinance about $390 million of debt.

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